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absolutely right i mean what everybody's focus is on what simpson bowl you know proposes to do it but i don't think that everybody focuses on what the implications would be and you know what they say be careful what you wish for you just might get it good and hard sometimes so in the first place i think the proposals themselves are sensible but they do not go far enough to really solve the problem because we have a massive problem and secondly corporate c.e.o.'s are asking for things that are very likely will result in a recession and a significant reduction in natural do you know in the consumer demand because the tax will you know taxes will be increasing government spending will be decreased it's not a free lunch and so there doesn't seem to be political will really at this point to inflict any kind of pain and so it's nice to ask for it it's nice to say i want to do it but actually doing it is a different story and everything the fed has been fighting against and everything that politicians resist because no matter what they say about spending no matter who gets the white house th
absolutely right i mean what everybody's focus is on what simpson bowl you know proposes to do it but i don't think that everybody focuses on what the implications would be and you know what they say be careful what you wish for you just might get it good and hard sometimes so in the first place i think the proposals themselves are sensible but they do not go far enough to really solve the problem because we have a massive problem and secondly corporate c.e.o.'s are asking for things that are...
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they wrote congress asking for a simpson bowles type solution of spending cuts paired with a tax code overhaul eighty of them signed on and there's an argument this overspending cannot go on for ever and that the day of reckoning could be near but then you look at a country like japan one last decade turn to two was the country's government proceeded to rack up debt levels over two hundred percent of g.d.p. yet there's been no cataclysmic explosion in the bond market the yen has actually seen a dramatic appreciation in its value viz a viz the dollar since the two thousand and eight financial crisis in fact the government of japan can borrow for thirty years at less than two percent according to bloomberg that's a better rate than the u.s. can ask for now this brings me to the u.s. take a look at the exponential increase in the u.s. debt how long can this continue now our guest argues that this increase in nominal debt has been offset by a decline in rates hears the rate for the five year treasury ok well the fed shown a willingness to keep rates suppressed and japan shows that this ca
they wrote congress asking for a simpson bowles type solution of spending cuts paired with a tax code overhaul eighty of them signed on and there's an argument this overspending cannot go on for ever and that the day of reckoning could be near but then you look at a country like japan one last decade turn to two was the country's government proceeded to rack up debt levels over two hundred percent of g.d.p. yet there's been no cataclysmic explosion in the bond market the yen has actually seen a...
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Oct 25, 2012
10/12
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we have to do a simpson-bowles tax reform program. we have to have good deregulation and go back to the reagan game plan of optimism pulling the country together and grow out this, the greatest nation in the word, we have a phenomenal future in front of us, let's get on with it. the american people want to go to work and ared from go to work. let's will the country, pay the debt off and have a great future for our children. >>neil: that is what 80 c.e.o.'s from a variety of industries including microsoft and others want to see out of the president and congress. they blame both sides as your dad did and as you do. but mit pit has been opposed to any sort of a tax increase. you know part of the debt commission calls for some revenue enhancements, taxes, how do you feel about that? >>guest: it depends on -- you do not want a tax increase but tax reform. you want more rough now through tax reform. you want did lower the rates, get rid of the deductions, and have more revenue. as you grow you will have great revenue but don't remove the ba
we have to do a simpson-bowles tax reform program. we have to have good deregulation and go back to the reagan game plan of optimism pulling the country together and grow out this, the greatest nation in the word, we have a phenomenal future in front of us, let's get on with it. the american people want to go to work and ared from go to work. let's will the country, pay the debt off and have a great future for our children. >>neil: that is what 80 c.e.o.'s from a variety of industries...
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Oct 21, 2012
10/12
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that's why i love the concept of simpson bowls. simpson-bowles. >> thank you so much. still ahead, president obama's latest green jobs fiasco. another administration favorite goes belly up, taking millions of taxpayer dollars with it. the details are next. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. >> clean energy manufacture in michigan that just hired its 1,000th worker as demand has soared for its vehicle components. companies like these are taking root and putting people to work in every corner of the country. >> i had a friend who said, you just don't pick the winners and pick the losers. all right? this is not the policy you want to have if you want america energy secure. >>a123 president obama was touting last year is another loser. the electric car battery-maker and recipient of a $249 million taxpayer-funded grant
that's why i love the concept of simpson bowls. simpson-bowles. >> thank you so much. still ahead, president obama's latest green jobs fiasco. another administration favorite goes belly up, taking millions of taxpayer dollars with it. the details are next. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers...
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Oct 7, 2012
10/12
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FOXNEWS
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one could follow bowl etion-simpson and make deductions that way. there are alternatives to the objective i have, which is to bring down rate, broaden the base, simplify the code and create incentives for growth. with regard to health care, you have remarkable details with regard to my pre-existing plan. you studied up on my plan. i do have a plan for pre-existing conditions. what we did in massachusetts is a model for the nation -- state by state. i said that at that time. the federal government taking over health care for the entire nation and whisking aside the 10th amendment, which gives states the rights for these things is not the course for america to have a stronger, more vibrant economy. >> jim: that's a terrific segue to our next segment. it is the role of government. and let's see, role of government. you are first on this, mr. president. the question is this: do you believe -- both of you -- but you had the first two minute on this, mr. president -- do you believe there is a fundamental difference between the two of you as to how you vie
one could follow bowl etion-simpson and make deductions that way. there are alternatives to the objective i have, which is to bring down rate, broaden the base, simplify the code and create incentives for growth. with regard to health care, you have remarkable details with regard to my pre-existing plan. you studied up on my plan. i do have a plan for pre-existing conditions. what we did in massachusetts is a model for the nation -- state by state. i said that at that time. the federal...
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Oct 20, 2012
10/12
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that's why i love the concept of simpson bowls. simpson-bowles. >> thank you so much. still ahead, president obama's latest green jobs fiasco. another administration favorite goes belly up, taking millions of taxpayer dollars with it. the details are next. victor! iot your campbell's chunky soup. mom? who's mom? i'm the giants mascot. eat up! new jammin jerk chicken soup has tasty pieces of chicken with rice and beans. you know the giants don't have a mascot right mom? [ male announcer ] campbell's chunky soup. it fills you up right. gives you a 50% annual bonus. and everyone, but her... likes 50% more cash. but, i have an idea. do you want a princess dress? yes how about some cupcakes? yes lollipop? yes! do you want an etch a sketch? yes! do you want 50% more cash? no you got talent. [ male announcer ] the capital one cash rewards card. with a 50% annual cash bonus it's the card for people who like more cash. what's in your wallet? i usually say that. >> clean energy manufacture in michigan that just hired its 1,000th worker as demand has soared for its vehicle compon
that's why i love the concept of simpson bowls. simpson-bowles. >> thank you so much. still ahead, president obama's latest green jobs fiasco. another administration favorite goes belly up, taking millions of taxpayer dollars with it. the details are next. victor! iot your campbell's chunky soup. mom? who's mom? i'm the giants mascot. eat up! new jammin jerk chicken soup has tasty pieces of chicken with rice and beans. you know the giants don't have a mascot right mom? [ male announcer ]...
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Oct 26, 2012
10/12
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CSPAN2
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simpson-bowles is a compromise. it is a discussion of how we will get this country back on a fiscally sound clip that is bipartisan. i was one of 38 who voted for simpson-bowles. to say this is a better way. let's do this bipartisan approach and what is best for the people in this country. >> moderator: thank you. ursala rozum, a follow-up question for you. if there is a 10% across-the-board cut in all federal grants, new york could lose more than $6 billion. according to the rabbits report, states interests should be on the table when federal reductions are being debated. analyzing the overall impact on the state, if you win this election, do you promise support a mechanism for consulting with states about the upcoming federal changes and their impact on state and local government? rozum: of course, i think that people are affected by the decision. no one wants bureaucrats in washington making decisions that are going to be affecting them. the times that we had a balanced budget, we were talking about this kind of
simpson-bowles is a compromise. it is a discussion of how we will get this country back on a fiscally sound clip that is bipartisan. i was one of 38 who voted for simpson-bowles. to say this is a better way. let's do this bipartisan approach and what is best for the people in this country. >> moderator: thank you. ursala rozum, a follow-up question for you. if there is a 10% across-the-board cut in all federal grants, new york could lose more than $6 billion. according to the rabbits...
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Oct 1, 2012
10/12
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CNBC
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simpson-bowles raised a lot of revenue. and becky is right, look, presidential campaigns especially the last month are not where campaigns decide to lay out the difficult details. remember this, ronald reagan ran for re-election and there were vague illusions to tax reform. did he layout a tax reform plan? he did not. they passed tax reform in 1986. so of course journalists will press for details because it is difficult to make plans up. we can't know precisely how the obama administration proposes to raise the top corporate rate to on 28%. we don't know how mitt romney proposes to lower the corporate rate to 20%, 25%, i forget which one, because they haven't identified the loopholes. >> but that's linchpin of the whole campaign is around taxes, is around lowering taxes and is around -- >> actually, it's not. actually, it's not because if you remember, andrew, in his convention speech, he didn't especially mention his individual tax cut. and he went out on the road last week and said by the way, i'm going to cut tax rates,
simpson-bowles raised a lot of revenue. and becky is right, look, presidential campaigns especially the last month are not where campaigns decide to lay out the difficult details. remember this, ronald reagan ran for re-election and there were vague illusions to tax reform. did he layout a tax reform plan? he did not. they passed tax reform in 1986. so of course journalists will press for details because it is difficult to make plans up. we can't know precisely how the obama administration...
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Oct 11, 2012
10/12
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does governor romney specifically embrace simpson-bowles or does he not? he gave us both answers in the last debate. what is your understanding of the governor's approach, he's a presidential candidate, to simpson-bowles? yes or no. >> the governor's approach to simpson-bowles it's a step in the right direction, right. >> but he has his own plan and his own plan would, you know, does not involve some of the components of simpson bowls. as it relates to that, you know, on that issue, he's been pretty clear. he's got his own plan -- >> he hasn't been clear. >> okay. time-out. mitt romney did one thing that everybody acknowledges, even though in his own party, which is pivot further towards the center. paul ryan's budget has been declared by some folks, some analysts, including those in the republican party, to be a fairly strong document win that takes specific stances on the american social compact. do you think paul ryan will be defending mitt romney's moderate position tonight or mitt romney's previously severely conservative position of the campaign trai
does governor romney specifically embrace simpson-bowles or does he not? he gave us both answers in the last debate. what is your understanding of the governor's approach, he's a presidential candidate, to simpson-bowles? yes or no. >> the governor's approach to simpson-bowles it's a step in the right direction, right. >> but he has his own plan and his own plan would, you know, does not involve some of the components of simpson bowls. as it relates to that, you know, on that issue,...
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Oct 14, 2012
10/12
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host: mitt romney open to bowles-simpson. guest: anytime you have a blue ribbon commission, especially if it is dealing with massive rearrangement of how the government spends money, it will be a tricky sort of thing for a politician before an election. host: is it a dangerous issue when trying to garner tea party support? guest: i think it is savvy on his part. the bowles-simpson commission was a blue panel. president obama called together. they came up with a lot of hard decisions nobody liked. then he dismissed it and went on his way. i think it could be tricky. i think it is savvy in one respect. mitt romney is running on the idea he will make tough decisions, that he is not going to skip out on major decisions that turn the giant battleship in a different direction so we're not heading towards insolvency. i think it is smart because the resort is needed. -- that is what is needed. i think people are convinced major drastic decisions are going to have to be made. they need to know they are voting for a guy who can make th
host: mitt romney open to bowles-simpson. guest: anytime you have a blue ribbon commission, especially if it is dealing with massive rearrangement of how the government spends money, it will be a tricky sort of thing for a politician before an election. host: is it a dangerous issue when trying to garner tea party support? guest: i think it is savvy on his part. the bowles-simpson commission was a blue panel. president obama called together. they came up with a lot of hard decisions nobody...
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Oct 10, 2012
10/12
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dimon saying the economy would have been stronger had we adopted simpson-bowles. again jamie dimon down at the council on foreign relations. much more when we come back. >>> the markets selling off today. the s&p 500 almost at session lows, down .5%. dow industrials giving back .66% as well. back on the other side of this break. >>> it is time for the biggest pops and drops in midday trading. sprint is up first. >> speculation that they may go after a pcs after all. the saga still continues. i still avoid the stock buying under $5. >> the monster of a man. >> monster beverage. when you go back you can see where it is coming from. there are some regulations about the health issues and the rest. downgrade dad but the target remains 78. i think this is an interesting name at these levels. >> true religion. >> they put themselves up for sale potentially hiring advisors. i actually like the franchise. i think the valuation is good. this is a good buy. >> give me a drop on valero? >> the market's derisking. july 22nd valero unit louisiana goes down, back online now. 135
dimon saying the economy would have been stronger had we adopted simpson-bowles. again jamie dimon down at the council on foreign relations. much more when we come back. >>> the markets selling off today. the s&p 500 almost at session lows, down .5%. dow industrials giving back .66% as well. back on the other side of this break. >>> it is time for the biggest pops and drops in midday trading. sprint is up first. >> speculation that they may go after a pcs after all....
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Oct 7, 2012
10/12
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. >> and both of them embraced the simpson-bowles commission and the simpson-bowles commission put out three different tax rates and each rate you will have to do something with the deductions and exemptions, eliminate all of them or retain them and romney says i'm going to drop rates and put all of those deductions and exemptions on the table for negotiation. any serious person in politics knows that's the starting point pour reworking the tax code. you don't have to get into the fine detail at this point. >> paul: kim, what do they have to do to maintain the momentum, the romney campaign. >> you see them doing this. now flooding the zone with a whole bunch of new ads going after the president both on things like the deficit, but talking more about mitt romney's own plans for reform and so they're trying to bulk up their presence out there in the the swing states and really grab this momentum and then they've also of course, got to have a good rest of the remaining debates. no one should forget, john kerry had a good opening debate in 2004 and went on to lose the election and they're
. >> and both of them embraced the simpson-bowles commission and the simpson-bowles commission put out three different tax rates and each rate you will have to do something with the deductions and exemptions, eliminate all of them or retain them and romney says i'm going to drop rates and put all of those deductions and exemptions on the table for negotiation. any serious person in politics knows that's the starting point pour reworking the tax code. you don't have to get into the fine...
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think of this as simpson bowles 2.0. he's been highly critical over the handling of the fiscal cliff that threatens our economy. senator nunn, you have said, quote, both sides seem to have a political strategy, but their governing strategy is in doubt. those are your words. have you ever seen government so broken that lawmakers would rather take the economy to the brink? and i agree with those economists who say it probably won't happen, but why are we risking this? why are we risking these decision s on whether to employ someone because of something that might happen? >> the lame duck session can change things, but what i would like to see instead of just kicking the can down the road and kicking the cliff down the road with this same draconian solution if we don't reach an agreement, change the can before you kick it and that means something like simpson bowles would become the default position. so you give congress time so take its own course if they choose to, but failing that, you would have a soft landing rather th
think of this as simpson bowles 2.0. he's been highly critical over the handling of the fiscal cliff that threatens our economy. senator nunn, you have said, quote, both sides seem to have a political strategy, but their governing strategy is in doubt. those are your words. have you ever seen government so broken that lawmakers would rather take the economy to the brink? and i agree with those economists who say it probably won't happen, but why are we risking this? why are we risking these...
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Oct 24, 2012
10/12
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simpson/bowles, we're going to stay away from the acronym of bowles/simpson. there are hundreds of people that could that you know that could design a sensible plan. any plan that gets dick durbin and tom coburn to sign on. that reflects a lot of negotiation and effort by two terrific people in simpson and bowles. it's going to get done. and the american people won't stand for it not getting done. and incidentally, i think it'll get done -- i don't mean simpson/bowles precisely, but something materially close to it will get done by either person selected. >> and by that, i mean, a lot of americans probably don't even understand what's in it. you're talking about a plan that will lower tax rates, strip out a lot of the loopholes or things that we've built in as policy and decided we want. >> $4 trillion over ten years, becky, it's about 1 billion of revenue. lower the tax rate, broaden the base. global system, stuff like that. you know, we're not going to like -- i guarantee, we're not going to like all of it. >> right. >> i guarantee you. >> but, you know, i t
simpson/bowles, we're going to stay away from the acronym of bowles/simpson. there are hundreds of people that could that you know that could design a sensible plan. any plan that gets dick durbin and tom coburn to sign on. that reflects a lot of negotiation and effort by two terrific people in simpson and bowles. it's going to get done. and the american people won't stand for it not getting done. and incidentally, i think it'll get done -- i don't mean simpson/bowles precisely, but something...
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Oct 17, 2012
10/12
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there's simpson/bowles, domenici revlon, also with. those templates can be put together and it has to have everything in it and everything has to be addressed and people need to work together. there's critical mass to get it done. when we talk about the sequestration and fiscal cliff, but with self imposed on us in a bipartisan way to get us to work together. it's easily fixed. all we have to do is work together. like i said in the beginning that's what montanans do naturally. we need to and from montana. >> moderator: representative rehberg, one minute. rehberg: first we need to repeal a bomb or care at nasa for sony to work on a bipartisan solution to the farm bill. we need to do as they travel around us people you're more than anything else this insurgency. we need to know what our taxes are going to be. i did everything i can to eliminate the death tax because of a third of our ranch, barns and corrals in june and i've had to rebuild from scratch on 1% borrowed money. we don't need regulation continually dropping down. sequestratio
there's simpson/bowles, domenici revlon, also with. those templates can be put together and it has to have everything in it and everything has to be addressed and people need to work together. there's critical mass to get it done. when we talk about the sequestration and fiscal cliff, but with self imposed on us in a bipartisan way to get us to work together. it's easily fixed. all we have to do is work together. like i said in the beginning that's what montanans do naturally. we need to and...
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Oct 12, 2012
10/12
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steve liesman sat down with lloyd blankfein, also alan simpson and erskine bowles. and they set the stage warning of the high stakes for the country and the economy if we don't work this out and the markets. >> somebody could comes to you and says you need play 5% more on your income taxes in order to solve the deficit, are you in favor of that? >> of course. let me use my formulation. if you paid 5% more, you would solve the problem in a heartbeat. i don't know anybody who wouldn't pay that kind of price to benefit our country. the questions that come up are people going to-hftd pressure that's put on people who would otherwise advocate tax raises, how will you spend it and whether this defer the hard choices that have to be made down the road. no one is so unpay the reon the tick that they wouldn't condition tribute more. the issue is what resolves it is. >> we're accepting the challenge to do something about the looming fiscal cliff. so this morning we'll ask each of our guests about the stakes and the consequences for action and what would happen win action. wit
steve liesman sat down with lloyd blankfein, also alan simpson and erskine bowles. and they set the stage warning of the high stakes for the country and the economy if we don't work this out and the markets. >> somebody could comes to you and says you need play 5% more on your income taxes in order to solve the deficit, are you in favor of that? >> of course. let me use my formulation. if you paid 5% more, you would solve the problem in a heartbeat. i don't know anybody who wouldn't...
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Oct 29, 2012
10/12
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>> a lot simpson-bowles on the table, but i also want my own plans on the table. i want to label to put in the same thing i did when i was governor, a proposal that said every state agency had to take a 5% reduction and be able to have an opportunity to redesign their departments. i would do the same thing with the federal government. i want to require the federal government to come in a 5% below what they had before. i wished i would have had the power to able to redesign programs. nothing ever gets eliminated in the federal prepare the worst you can get is one% increase in federal program or maybe 2% or 3%. e-tickets secretary to power to reduce their budget -- if you give secretaries the power to reduce their budgets. i would also require a resolution that says if you don't pass the budget more than four months after the first of january, you don't get paid. let's force congress to redo their jobs. -- to really do their jobs. >> would you support something like what the simpson-bowles commission recommended? i found a point of agreement. i also agree congress s
>> a lot simpson-bowles on the table, but i also want my own plans on the table. i want to label to put in the same thing i did when i was governor, a proposal that said every state agency had to take a 5% reduction and be able to have an opportunity to redesign their departments. i would do the same thing with the federal government. i want to require the federal government to come in a 5% below what they had before. i wished i would have had the power to able to redesign programs....
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Oct 25, 2012
10/12
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CNBC
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some say simpson/bowles failed. it didn't get 14 votes but changed the discussion in the country because nobody was talking about this before. nobody was aware of it. those discussions have begun. you put on top of that $30 million that says we're focused on this, ceos are interested, this is not an official group, an ad hoc group pulled together, wow, that gets people paying attention. >> i know you're still backing the president. >> right. >> okay. i'll let you say that. i know -- we've had our discussion. but do you -- how do you think -- so, you're on -- you want the president to be re-elected. do you care which candidate wins in terms of helping us get this closer -- >> oh, i don't declare -- >> i'm more focused on we have to solve the problem. >> let me ask a different question. >> you know -- is it you -- i believe in the business community if romney wins the fiscal cliff, at least the can gets kicked. the issue gets forced, if obama win. is that an accurate way to -- >> no. i don't think you should look at i
some say simpson/bowles failed. it didn't get 14 votes but changed the discussion in the country because nobody was talking about this before. nobody was aware of it. those discussions have begun. you put on top of that $30 million that says we're focused on this, ceos are interested, this is not an official group, an ad hoc group pulled together, wow, that gets people paying attention. >> i know you're still backing the president. >> right. >> okay. i'll let you say that. i...
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Oct 6, 2012
10/12
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CNNW
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think of this as simpson-bowles 2.0. senator nunn has been highly critical of both republicans and democrats over their handling of the fiscal cliff that threatens our economy. senator nunn you said both sides steam have a political strategy but their governing strategy is in doubt. those are your words. have you ever seen america so broken that lawmakers would rather take the economy to the brink. why are we richinging this? why are rerisking people's decisions whether to employ somebody. >> it's a very dangerous game of chicken going on and i think that game needs to be changed and even changed quickly. the lame duck session can do that. what i would like to see is instead of kicking the can down the road and kicking the cliff down the road with this same draconian solution if we don't reach an agreement change the can before you kick it. that means something like simpson bowles. so you give the next congress time to take their own course if they choose to but failing that would you have a soft landing rather than a di
think of this as simpson-bowles 2.0. senator nunn has been highly critical of both republicans and democrats over their handling of the fiscal cliff that threatens our economy. senator nunn you said both sides steam have a political strategy but their governing strategy is in doubt. those are your words. have you ever seen america so broken that lawmakers would rather take the economy to the brink. why are we richinging this? why are rerisking people's decisions whether to employ somebody....
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Oct 4, 2012
10/12
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MSNBCW
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will you support simpson/bowles? >> simpson/bowles, the president should have grabbed that -- >> no, do you support simpson/bowles? >> i have my own plans, not the same as simpson/bowles. but the president should have taken it, made some adjustments -- >> that's what we've done. put it before congress right now. >> but you've been president for four years. said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says we'll have a $1 trillion deficit each of the next four years. if you're re-elected, we'll get to a $1 trillion debt. and i love this idea of $4 trillion in cuts. you found $4 trillion of ways to get closer to a balanced budget, yet we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes. well, i don't want to raise taxes on people. and you said it back in 2010. you said, i'm going to extend the tax policies that we have. i'm not going to raise taxes on anyone, because whe
will you support simpson/bowles? >> simpson/bowles, the president should have grabbed that -- >> no, do you support simpson/bowles? >> i have my own plans, not the same as simpson/bowles. but the president should have taken it, made some adjustments -- >> that's what we've done. put it before congress right now. >> but you've been president for four years. said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says...
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Oct 26, 2012
10/12
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they think the simpson's bowl framework in $3 in spending cuts is quote an effective framework for a deficit reduction plan. when mr. stephenson was asked about this unbridgeable gap and romney's plan mr. stephenson says this is bigger than any one political candidate. obviously he knew mitt romney the business man before candidate romney became the captive of the tea party. he believes that mitt can still do the numbers that any ceo can do. it is impossible to do it the way that bill clinton did it. >> what new ideas do we bring to washington? i always give an answer. arithmetic. >> the reason we need higher taxes is arithmetic. america is left to guess who mitt will take orders from. his old friends the most powerful ceo's? or the anti-tax fanatics of the teat party. >> i'm not going to raise taxes on the american people. with accident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands? [ male announcer ] start with an all new award winning car. good. now find the most hard core driver in amer
they think the simpson's bowl framework in $3 in spending cuts is quote an effective framework for a deficit reduction plan. when mr. stephenson was asked about this unbridgeable gap and romney's plan mr. stephenson says this is bigger than any one political candidate. obviously he knew mitt romney the business man before candidate romney became the captive of the tea party. he believes that mitt can still do the numbers that any ceo can do. it is impossible to do it the way that bill clinton...
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corporations sent congress a letter asking for a simpson bowles type approach to reigning in the u.s. deficit the budget deficit three dollars in spending cuts for each dollar of tax increases what would be the impact of this or other possible scenarios for dealing with the u.s. debt and deficit simon mccaleb edge of ideas capital is here to talk about it and speaking of deficits according to the financial times japan's finance ministry will hold crisis talks with bond dealers tomorrow as politicians there are at odds over a bill that's needed to allow billions more in borrowing to finance the country's deficit sound familiar japan is often brought up when talking about a country the us is ability to run massive deficits will discuss the lessons for the u.s. and new g.d.p. numbers from the u.k. if you put stock in them they show the countries rebounding from recession growing by one percent is this growth a reflection of better days to come or is it just the result of one off the lympics summer spending we'll talk let's get to today's capital account. we all know the drill the us has
corporations sent congress a letter asking for a simpson bowles type approach to reigning in the u.s. deficit the budget deficit three dollars in spending cuts for each dollar of tax increases what would be the impact of this or other possible scenarios for dealing with the u.s. debt and deficit simon mccaleb edge of ideas capital is here to talk about it and speaking of deficits according to the financial times japan's finance ministry will hold crisis talks with bond dealers tomorrow as...
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if they had real cuts we could save on more than that is the simpson bowles commission had suggested right and of course treated as a political football by saying you know we want to make the american navy smaller than it was before world war one to witness is not what the way to peace only strength is the way to peace yet paul ryan channel seemed to be out front of military for rays hinting at so prolonged stay in afghanistan action against iran even see what do you make of that why yes. he's one of the ones who says that the only way to pieces by total world domination by total military power. and. at the same time is claiming that he's a fiscal conservative and is going to save the country from budget deficits it's a total lie. we are wasting vast amounts of money on the list wars we are supporting across the leaders in many countries we are the cause of many problems around the world and yet. he had the gall to say that iran was the world's leading supporter of a terrorism for example. he had a golden opportunity to go to america obama last month obama's administration took the i
if they had real cuts we could save on more than that is the simpson bowles commission had suggested right and of course treated as a political football by saying you know we want to make the american navy smaller than it was before world war one to witness is not what the way to peace only strength is the way to peace yet paul ryan channel seemed to be out front of military for rays hinting at so prolonged stay in afghanistan action against iran even see what do you make of that why yes. he's...
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Oct 9, 2012
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what the simpson-bowles does -- it increases gas tax by 15%. it eliminates the home mortgage deduction. it was a promises made when you took out a mortgage and the value of your home maybe in relation what you pay in your tax. i believe in flat tax. i think ultimately we could move toward the flat tax. we need a simpler system. we need a tax system that is easily done and easily understood and i will begin by helping those senior citizens with their income taxes for the purposes of making simpler for them. i got to tell you, people support reform, as long as it doesn't change anything. it will be difficult to work towards tax reform. i'm fighting for a flat tax. that is the best way to go. >> senator tester. >> the question becomes housing deductions and charitable deductions study maintain when you have the flat tax. but that is not the point. i will say something that we agree on. if we play politics with this, we will never get anywhere. we have to work together on this to reform our tax structure in this country. if we put good heads togeth
what the simpson-bowles does -- it increases gas tax by 15%. it eliminates the home mortgage deduction. it was a promises made when you took out a mortgage and the value of your home maybe in relation what you pay in your tax. i believe in flat tax. i think ultimately we could move toward the flat tax. we need a simpler system. we need a tax system that is easily done and easily understood and i will begin by helping those senior citizens with their income taxes for the purposes of making...
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Oct 3, 2012
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we shouldn't even try to substitute the fiscal can with the grand bargain like simpson-bowles simply because it is too hard for us. i know we can't do that. i'm proposing instead of, and i'm proposing, not congress, i'm proposing that instead of substituting the fiscal cliff or ignoring it, that we recycle those fiscal cans. we can't kick it, but we have to recycle it. there's the notion, all the fiscal cans representing certain policies that we were willing to commit to in the past that legislators past, committing to the tax bush cuts expiring at the end of 2010 and 2012. they chose to kick the cans to the points in times comprise of those those elements. there's a lot of good substance to essential elements that make up the cans. let's hold on to the cans, not just kick them. let's not just ignore them. let's keep them, and here's what i mean. recycle them. look at the composition of the cans in terms of how much is revenue increases and how much are spending cuts? they are doable and easy to do over the ten-year window. hard to do now. the pile of cans as it stands is not useful
we shouldn't even try to substitute the fiscal can with the grand bargain like simpson-bowles simply because it is too hard for us. i know we can't do that. i'm proposing instead of, and i'm proposing, not congress, i'm proposing that instead of substituting the fiscal cliff or ignoring it, that we recycle those fiscal cans. we can't kick it, but we have to recycle it. there's the notion, all the fiscal cans representing certain policies that we were willing to commit to in the past that...
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gerri: even mitt romney in the debate said why not bowles-simpson? it's a balanced approach. you're not in favor of it. >> of course not. he was talking about what simpson bowles says it wants to do sometimes which is restrain spheppedding and have revenue neutral reform. if you read the fine print of simpson-bowles, it takes taxes from 18.5%of gdp, its normal for the last 30 years, to it 2* # 1%, a #.5% increase in taxes of gdp to $5 trillion tax increase over the next decade. $5 trillion tax increase. the spending cuts, of course, have been rejected by obama. he put none of them in the budget. gerri: that's the problem. >> all he wants is the tax increase. gerri: that's the problem in the nutshell. raising taxes they don't want to curb spending.g. what happens if we go over the fiscal cliff? at the end of the day, we have a choice, go over the cliff or do something; right? here's what happens. 90% of households have a tax increase, average of $35 # 00. these may be citing your numbers here. we got the obamacare taxes coming into place. this is truly a disincentive to sang,
gerri: even mitt romney in the debate said why not bowles-simpson? it's a balanced approach. you're not in favor of it. >> of course not. he was talking about what simpson bowles says it wants to do sometimes which is restrain spheppedding and have revenue neutral reform. if you read the fine print of simpson-bowles, it takes taxes from 18.5%of gdp, its normal for the last 30 years, to it 2* # 1%, a #.5% increase in taxes of gdp to $5 trillion tax increase over the next decade. $5...
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s of eighty companies in the us advocating for some kind of simpson bowles plan a roadmap to balancing the budget reining in budget deficits are you saying you just don't see this happening because you don't think it's politically feasible that's kind of what i deduced before the break. absolutely right i mean what everybody's focus is on what some symbol you know proposes to do it but i don't think that everybody focuses on what the implications would be and you know what they say be careful what you wish for you just might get it good and hard sometimes so in the first place i think the proposals themselves are sensible but they do not go far enough to really solve the problem because we have a massive problem and secondly corporate c.e.o.'s are asking for things that are very likely will result in a recession and a significant reduction in natural do you know consumer demand because the tax will you know taxes will be increasing government spending will be decreased it's not a free lunch and so there doesn't seem to be political will really at this point to inflict any kind of pain
s of eighty companies in the us advocating for some kind of simpson bowles plan a roadmap to balancing the budget reining in budget deficits are you saying you just don't see this happening because you don't think it's politically feasible that's kind of what i deduced before the break. absolutely right i mean what everybody's focus is on what some symbol you know proposes to do it but i don't think that everybody focuses on what the implications would be and you know what they say be careful...
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of honeywell all signed on to but that is aside the point because simpson bowles is something we've talked about before ok this is a plan to at least deal with the deficit whether you love it or hate it but we will talk about what the scenarios are for dealing with the deficit and what happens if it is not dealt with ok possible outcomes dangerous scenarios and what you can do about it to protect yourself and thanks for that update that is coming up next on the capital account but that's going to do it for the news for more on our stories we cover today check out our you tube channel you tube dot com slash our to america will be right back in a half hour. wealthy british saw the sign. on the tires on. the. market why not. come to. find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune into cars a report on. the phone. more news today violence is once again fled up the phone these are the images the world has been seeing from the streets of canada the first shining corporation to rule the day. the for. the
of honeywell all signed on to but that is aside the point because simpson bowles is something we've talked about before ok this is a plan to at least deal with the deficit whether you love it or hate it but we will talk about what the scenarios are for dealing with the deficit and what happens if it is not dealt with ok possible outcomes dangerous scenarios and what you can do about it to protect yourself and thanks for that update that is coming up next on the capital account but that's going...
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Oct 25, 2012
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in fact, the group was inspired really by simpson-bowles which was an extraordinary bipartisan effort to get people from different sides of the aisle together and make some compromises. there's a bunch of good stuff to come out of simpson-bowles and we think that's the path to getting this thing fixed. >> because, as we know, kathryn, simple calculator tells us that just tax hikes on the rich isn't even going to make a dent in the deficit. although largely, we are being sold that in some respects. what's your reaction? >> well, in new york city we know how to count. we understand from a pragmatic point of view we need to raise revenues, we need to cut spending and we need long-term reform in entitlements and our tax codes. we have to get all that done but that is going to take a lot of pressure from the american public because in washington, they seem stalemated. no matter who's in charge. >> there's only so much rich people, kathryn. do you believe we need to broaden the base, which might mean -- and i can say it because i'm not running for office -- that the middle class may have to
in fact, the group was inspired really by simpson-bowles which was an extraordinary bipartisan effort to get people from different sides of the aisle together and make some compromises. there's a bunch of good stuff to come out of simpson-bowles and we think that's the path to getting this thing fixed. >> because, as we know, kathryn, simple calculator tells us that just tax hikes on the rich isn't even going to make a dent in the deficit. although largely, we are being sold that in some...
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Oct 10, 2012
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simpson bowles validated it. the gang of six endorsed it. in the upcoming talks on the fiscal cliff, ought to scrap it. the old style of tax reform is absolutely in the 2012 world. it does not fit the times. because there are two new condition that did not exist in 1986 staring us in the face today. first, a much larger, much more dangerous deficit. second, a dramatic increase in income inequality. old-style tax reform could make both conditions worse. i do not dismiss the old framework lightly. credit for the 1986 reform law belongs to democrats. like bill bradley in the senate. just as much to ruhle in i was on the committee to get it done. the approach made a good deal of sense at the time. then as now, the code was littered with egregiously polls that needed to be reformed. recall for instance the so- called passive loss schools that were in place back then. they allowed wealthy taxpayers to game the system. someone could invest in a bowling alley and then if the bowling alley lost money they could to write off many times larger than the
simpson bowles validated it. the gang of six endorsed it. in the upcoming talks on the fiscal cliff, ought to scrap it. the old style of tax reform is absolutely in the 2012 world. it does not fit the times. because there are two new condition that did not exist in 1986 staring us in the face today. first, a much larger, much more dangerous deficit. second, a dramatic increase in income inequality. old-style tax reform could make both conditions worse. i do not dismiss the old framework...
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Oct 10, 2012
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it's just simpson/bowles. why didn't your president -- why didn't he take up the simpson/bowles and run with it? >> this is an important point, jared. jared, let's focus on this, what arthur is saying. everybody in town, everybody in washington has a romney-like tax reform plan, whether it's the brookings tax policy center, they have one. >> he has a 28% -- >> you have simpson/bowles, and now you have the romney plan. your man's the only guy who thinks tax reform means higher tax rates. you're the only one. >> can i please respond here? >> i want you to. >> in every single budget he has produced, there has been a cap on itemized deductions for people above $250,000. they can only deduct the 28%, not 35% or 39%. and it raises half a trillion dollars over ten years. it's in every one of his budgets. please don't tell me it's not. i can show you where it is. >> arthur laffer, explain this to me. >> the key here is lowering rates. jared, i do agree with you, we need to raise taxes. but we don't need to raise tax r
it's just simpson/bowles. why didn't your president -- why didn't he take up the simpson/bowles and run with it? >> this is an important point, jared. jared, let's focus on this, what arthur is saying. everybody in town, everybody in washington has a romney-like tax reform plan, whether it's the brookings tax policy center, they have one. >> he has a 28% -- >> you have simpson/bowles, and now you have the romney plan. your man's the only guy who thinks tax reform means higher...